Lucintel's latest market report analyzed that glycerol provides attractive opportunities in the personal care industry. The glycerol market is expected to grow at a CAGR of 6%-7%. In this market, biodiesel is the largest segment by source, whereas personal care is largest by application. The growing adoption of propylene glycol derived from glycerol as a substitute for ethylene glycol in antifreeze products provides strategic growth path in this market.
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Based on source, the glycerol market is segmented into biodiesel, fatty alcohols, fatty acids, and soap. The biodiesel segment is accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period due to growing consumer awareness on the use of naturally sourced products, coupled with the higher demand for biodiesel in transportation fuels.
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The glycerol market is marked by the presence of several big and small players. Some of the prominent players offering glycerol include BASF SE, Wilmar International, P&G, Solvay, Godrej, and DOW.
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